Elliot wave analysis of Amara Raja Batteries - the next moveOm Namah Shivay
Brothers, Now analysing Amara Raja batteries. The correction wave B looks reached. Also it is at the top of the Weekly trend line.
Looks it could go side ways and come down.
The Wedge structure is interesting. It does not look this will become a parallel line move. Because for parallel line move, it has to go up much now. If it goes up much, then a new EW structure to be made. And this current structure will become invalid.
This is just an analysis, There is no trading advice or outcome.
Om Namah Shivay
Search in ideas for "ELLIOT"
Elliott wave count since inceptionI couldn't find better count than this. Current up-trend is just bull-trap.
Elliott wave analysis since March'20 low # different approachIf this part of analysis is correct, Nifty from ALL TIME LOW was not developed as Impulse n Correction combination, but instead double/triple-three combination. Consider the upmove from 2008 low, could not count as impulse after unexpectable sharp fall. We can adjust the count and move forward but could not predict what will happen next and same for since March'20 low.
After lot of struggle, these development was identified. I have been following this quite sometime.
